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- Royal Bank of Canada (based on MarketWatch)
Pair's Outlook
Level at 0.9805 proved to be resilient by forbidding USD/CHF to rally far above it for the last three days. Still, we stick to out view that the pair is bullish in the medium to long term, given that majority of technical indicators give "buy" signals for daily and weekly timeframes at the moment. Nonetheless, USD/CHF may drop down to 0.9737 and 0.9705/69 in the short run.
Traders' Sentiment
Portion of bulls is gradually diminishing and has already dropped to 58%, thus increasing the chance of SWFX sentiment index becoming mixed, while there is growing number of traders, who anticipate appreciation of the Swissie relative to the U.S. Dollar. The share of buy orders, on the other hand, is 42%.
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